Company News: QBE
QBE held its Annual General Meeting this week. Commentary was positive in regard to the start of CY/FY-19, with the company on track to meet the key financial performance metrics it has set for this year. Although there have been some catastrophes in Australia in the first part of this year (notably the Townsville flood), conditions in the Northern Hemisphere have been benign.
Additionally, the company discussed its turnaround program - of simplification, underwriting discipline (including exiting unprofitable lines and geographies) and cost reductions. Briefing on the progress regarding this was provided at the AGM, and we assess this bodes positively for future financial performance.
- Fleur Graves